Automatic Data Processing, Inc. $ADP Stock: Kestra Advisory Services LLC Raises Stake

Kestra Advisory Services LLC boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 29.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,887 shares of the business services provider’s stock after purchasing an additional 8,448 shares during the period. Kestra Advisory Services LLC’s holdings in Automatic Data Processing were worth $9,519,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrive Wealth Management LLC increased its position in Automatic Data Processing by 3.5% during the second quarter. Thrive Wealth Management LLC now owns 1,085 shares of the business services provider’s stock valued at $243,000 after acquiring an additional 37 shares during the last quarter. Aviance Capital Partners LLC boosted its position in Automatic Data Processing by 0.4% in the third quarter. Aviance Capital Partners LLC now owns 9,298 shares of the business services provider’s stock worth $2,399,000 after purchasing an additional 37 shares during the last quarter. Tanager Wealth Management LLP boosted its position in Automatic Data Processing by 4.1% in the third quarter. Tanager Wealth Management LLP now owns 971 shares of the business services provider’s stock worth $251,000 after purchasing an additional 38 shares during the last quarter. AMI Investment Management Inc. boosted its position in Automatic Data Processing by 3.6% in the third quarter. AMI Investment Management Inc. now owns 1,140 shares of the business services provider’s stock worth $294,000 after purchasing an additional 40 shares during the last quarter. Finally, Compass Financial Management LLC grew its stake in shares of Automatic Data Processing by 7.8% during the 3rd quarter. Compass Financial Management LLC now owns 578 shares of the business services provider’s stock valued at $149,000 after purchasing an additional 42 shares during the period. 80.03% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Joseph Desilva sold 631 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $282.87, for a total transaction of $178,490.97. Following the completion of the sale, the vice president directly owned 18,824 shares of the company’s stock, valued at approximately $5,324,744.88. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Virginia Magliulo sold 852 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $310.01, for a total transaction of $264,128.52. Following the completion of the sale, the vice president directly owned 14,865 shares of the company’s stock, valued at approximately $4,608,298.65. This trade represents a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 50,207 shares of company stock valued at $14,522,300. Insiders own 0.15% of the company’s stock.

Automatic Data Processing Stock Down 0.4%

NASDAQ ADP opened at $302.06 on Tuesday. The stock has a 50 day moving average price of $279.47 and a 200-day moving average price of $242.14. Automatic Data Processing, Inc. has a one year low of $188.16 and a one year high of $310.98. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.05 and a current ratio of 1.03. The company has a market capitalization of $119.24 billion, a P/E ratio of 26.51, a P/E/G ratio of 2.72 and a beta of 0.77.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 28th. The business services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.48 billion. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. Automatic Data Processing’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.49 earnings per share. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 12.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADP. Weiss Ratings raised shares of Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. UBS Group upped their price objective on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Morgan Stanley raised their target price on Automatic Data Processing from $286.00 to $288.00 and gave the stock an “equal weight” rating in a report on Thursday, October 29th. Wells Fargo & Company lifted their target price on Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Citigroup lifted their target price on shares of Automatic Data Processing from $287.00 to $295.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $285.00.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) provides payroll processing and human resources technology and services to businesses of varying sizes. Its offerings include payroll administration, tax filing, benefits administration, workforce management, talent management, and human capital management software.

ADP also provides services such as compliance support and professional employer organization solutions, which help businesses manage employment responsibilities. Its products combine software with payroll and HR services to support organizations’ workforce operations.

Founded in 1949 as Automatic Payrolls, Inc, the company has grown from a payroll-processing business into a global provider of HR and workforce solutions.